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English 46
Search Results 0 to 45 of about 46 (some duplicates have been removed)
ABC
Dec 30, 2012 7:00am EST
. that fiscal cliff and its potential impact on our economy brought lawmakers from both uses to washington for last-minute negotiations. concerns about the cliff spooked investors, the holiday shortened trading week was lighter in volume but higher in volatility. the worst decline of the month on thursday after a disappointing read on consumer confident and some public statements by congressional leaders. and yet with one final trading day to go, all the major averages were still showing positive performance for the year of 2012. meantime, the u.s. is set to reach the debt limit on monday. that according to treasury secretary tim geithner in a letter to congress, though, he did say he expects to take what he called extraordinary measures to extend the government's borrowing ability for another two months or so. and even your cup coffee, once a deal on the fiscal cliff. baristas at the 120 starbucks in washington, d.c. were encouraged by management to add a shot of partisanship to their drink orders and r remind customers i our nation's capital to come together. >> wall street is typically
NBC
Dec 30, 2012 2:30am EST
. >> find some way to avoid the fiscal cliff, to avoid doing anything that would contract the economy now. >> does that mean extending the tax cuts? >> the real issue is not whether they should be extended for another few months. the real issue is whether the price the republican house will put on that extension is the permanent extension of the tax cuts. >> grur going to extend the tax cuts you're going to have 3.8 trillion added in ten years to the $16 trillion we already owe. i mean, have a drink. >> we can't keep giving the middle class tax cuts like the president says he wants to do and romney says he wants to do when we got -- when we have a trillion dollar deficit. >> just a few days before the election day and you're analysis of the polls have given the president better than 80% chance of winning re-election? >> the fact that the president leads in the polls in ohio and iowa states where you would need -- he would need to win 207 electoral votes means he's the favorite in the electoral college. >> this is the era of flation. bernanke is writing checks, mar maria. >> writing checks
FOX News
Dec 30, 2012 8:00am PST
that the fiscal cliff won't hit the economy right away. tell actually give lawmakers more time to continue negotiating. but how long can our economy take the uncertainty? >> it is not just uncertainty. we have had that factored in. the reality is that unless the president suspends the increase in payroll taxes that are going to take place, not just social security, but withholding for income tax, while they continue to negotiate, we have gone off the cliff. in the month of january, people will live off their credit cards, but they can only do that so long. come february and march, the higher taxes will require adjustments in the spending habits of folk who is make between $25,000 and $100,000 a year. i would point out that this is no reason to give the president everything he wants and pass that bill that he proposes because if the republicans do that, they lose all their leverage. i have news for most people. if we dont curb our spending, everybody's going to have to pay the higher taxes in the end because things are flying out of ceil. >> no one's talking about spending cuts right now t.
NBC
Dec 30, 2012 6:00am EST
of the day, or the economy with the fiscal cliff issue, and it needs to be a fast middle to come together and find solutions. i think 2012 was that year where there were so many examples where we as a people have to put things aside and come together and find solutions. there will be plenty of time to deal with divisive issues later on once we get the big stuff taken care of. and immigration is another thing we need to come together on. and we need to find ways to come together on the big vexing issues. >> and truly a year of challenges it was. and coming together, you are right. maria? >> well, let me bring it down a little bit and let me say for us, and i am in health care, so i have to say the president took some big shots at health care reform, and while it's cumbersome and we are having issues in trying to implement it, down at the level where we are working with individuals, people who really need primary care, i think that everything else can be resolved, but it's really getting health care to the people that really need it. and i think to takeaway everything, the number of immigra
CNN
Dec 30, 2012 3:00pm PST
our economy back into the recession if we go over the fiscal cliff. >> but ali, neither side is budging much. you have been reporting on it for the last couple of hours. friday though, president obama said that he was optimistic that the two sides could reach a deal. this morning, he sounded less positive though. >> if, you know, if people start seeing that on january 1st, this problem still has not been solved, that we haven't seen the kind of deficit reduction that we could have had, had the republicans been willing to take the deal they gave them, and if they say that people's taxes have gone up which means consumer spending will go down. >> and keep in mind that the senate is the first hurdle. any deal has to pass the house. we are not into the senate yet and the republican speaker john boehner plablamed the crisis one president saying he the one who has never found a way to say yes. >> so you are in new york and i'm in atlanta, and we get to washington now, because the senior congressional correspondent dana bash is closely following the negotiations from capitol hill, a
CNN
Dec 30, 2012 12:00pm PST
, the u.s. economy is on the verge of taking off. but the fiscal cliff mess could get in the way. how much could eexpect in 2013 with a deal or without a deal. well, i guess i can double check... my watch! [ male announcer ] it pays to double check, with state farm. so, the 5.3-liter v8 silverado can tow up to 9,600 pounds? 315 horsepower. what's that in reindeer-power? [ laughs ] [ pencil scratches ] [ male announcer ] chevy's giving more. now through january 2nd, no monthly payments until spring for qualified buyers. get the silverado for 0% apr financing for 60 months plus $1,000 holiday bonus cash. plus trade up for an additional $1,000 trade-in allowance. >>> welcome back to "your money," we welcome our viewers here in the united states and around the world. breaking news on the fiscal cliff. there's been a significant snag in the negotiations with just fewer than two days remaining to go. about 36 hours remaining on the countdown clock. dana bash is on capitol hill with latest. dana, what have you got? >> this kbifs you a good sense of where things stand. they're at a standstill. you
KRON
Dec 30, 2012 8:00am PST
the economy will go over the fiscal cliff. they say that reaching a deal will not be easy. >> we cannot afford a politically self-inflicted wound to the economy. the people that you sent to washington half to do with their jobs. >> mitch mcconnell was are riding on capitol hill just hours before meeting with obama. >> we are going to see if we can get there in the next 24 hours. i am hopeful and optimistic. >> politicians on both sides have the responsibility but the president's tax hike will not do much to address the debt. >> the top 25 of american will not even pay one-third of the annual interest that is owed for this 16 trillion dollar debt. >> washington will return before the end of the year but they are likely to be burning the midnight oil. >>> we'll take a quick break on kron 4 news weekend. but first, let's take a live look outside at san francisco from our roof cam here on van ness avenue. let's take a quick look outside this morning at san francisco. outside this morning at san francisco. oh, you have a keurig vue brewer? oh, it's great! now i can brew my coffee just the way i lov
FOX Business
Dec 29, 2012 11:00pm EST
for itself after two years. coming up next, how the massive gains in the fiscal cliff could impact your 401k and the economy. stay with us gerri: you make it, they take it. 23.8% is the raise that policymakers will see on capital gains. chris edwards joins me now. he is director for tax policy studies at the cato institute. i would like to show people what we're talking about. he gets confusing for people. we have a current tax rate, 15%. on january 1, the capital gains tax ra will jump to 23.8%. i talked to a lot of my frien and they say that's not a big dumb. what you say? >> it is a big jump. if you add state taxes on top of that, the united states will be up to 20%. our major trading partners, britain and europe and canada -- they are oly 16%. so there is a very good reason why just about every industrial country has a really low capital gains tax rate. that's because policymakers just about everywhere know that low capital gains tax rates are crucial for a growthof economy and entrepreneurship and high-technology industries. gerri: so what if we compare favorably with a lot of developed
MSNBC
Dec 30, 2012 9:00am PST
debt ceiling. you think the fiscal cliff thing is bad for the economy. you wait and see if they can't get the debt ceiling worked out. >> right. it's one thing to go over the fiscal cliff. that would be bad. we don't want to it happen. a recession may happen. it would be unfortunate. it's different than the u.s. defaulting on the debt. you know, we saw that back in august, 2011, we saw the downgrade of the credit rating. just by having the threat of not approving the debt ceiling increase and the possibility of default. it comes around again at the end of february, beginning of march. it's a time when there's a deal. if the deal does not include the debt ceiling, more damaging effects on the confidence. >> here we go again. neil irwin, it's good. economic editor. three ways they can mess this thing up next year. thank you so much. we'll talk to you again soon. we are 20 minutes to the top of the hour now. there have been major setbacks in the deal talks. we are just getting this news, a major setback in negotiations over a fiscal cliff deal. senator reid, according to democratic sou
CNN
Dec 30, 2012 4:00am PST
. that is being discussed as part of a fiscal cliff deal but money believe that will hurt the economy and giving a disincentive to invest money. is that just focused on the real wealthy? >> i hear that argument a lot. number one, i'm really tired of our tax policy decisions and everything being made by what the market is going to do in the next quarter. look, this is an aberration and the tax code and grossly unfair. you look at say they raise tax rates, the top tax rate to 39.6% for those making more than $500,000, that's going to mean a lot of small businesses are going to pay that nearly 40% marginal tax rate where you have billionaire private equity funds paying 15, 20 or even 24 depending on where they put it. not an issue of penalizing investment income but penalizing labor and those who make their income through wages and they should both be taxed at the same rate. i do, again, fundam and at least raising the capital gains rate would help address this anomaly and susan collins and clara mccasical give legitimate -- you have billionaire equity managers paying 39%. i think this is a source
CSPAN
Dec 30, 2012 2:00pm EST
the democratic controlled senate to lead our economy to the edge of the fiscal cliff. congress people from both parties are searching for a bipartisan solution. that is the leadership that america needs, not what we saw from the president this morning ." those of the comments from speaker boehner. the house has gaveled out. we expect them back in about two hours. let's go to newbury port. caller: thank you for c-span. i do not understand where this $250,000 number comes from. i am 70 and have never been asked to make a sacrifice by any congress. it just seems to me that if the average income in most states -- to ask people making $125,000 or more, to ask them to contribute more, that seems to be a no- brainer. i do not see why people in this country are not ready to make a compromise. let's face it, we will either all have to pay slightly more taxes and accept the fact that our benefits are going to have to be lower than they really are -- i am in that bracket of $125,000 to $250,000. i am very comfortable, i could contribute more to the deficit, i just want to make sure that that money goes to
CNN
Dec 30, 2012 2:00pm PST
the fiscal cliff. think of it as, well this way, our economy is in a car headed toward that cliff and there's a lot of stake, including massive spending cuts and social programs and defense, expiration you the bush era tax cut, increases in other taxes on families like the alternative minimum tax and the expiration of the payroll tax holiday, there's this to think of, for 2 million unemployed worker, the loss of unemployment benefits. we have asked experts to join us for a fiscal cliff roundtable discussion, if you will. ron brownstein is a senior -- cnn senior political analyst and editorial director of the national journal and stephen moore, senior economics writer at the "wall street journal" and is in washington, d.c. first up, ron, will, do you think, these politicians reach a deal or not and why or why not? >> the fiscal cliff was yeelted as a doomsday machine to try to give them more will power to do what they can't do on their own, to reach a deal. the reason all of this was here, incentive to reach a deal, some of your guests pointed out during the day, a lot can go wrong when you
CSPAN
Dec 30, 2012 10:00am EST
, to bring it back to the current fiscal cliff talks -- during the campaign, you said that raising taxes is not a good way to help the u.s. economy. do you have an across the board opposition to raising taxes? >> i do believe that the worst thing to do any weak economy is to try to raise taxes. it is like pouring gasoline on fire. it is important to remember as a look at this debate, if the president gets all of his tax increases he is asking for, it $80 billion to the government. that is enough money to run the government for eight to 16 days. it will raise our deficit to somewhere around $1 trillion. i think we have to get aggressive about spending. we're going to have to look added title months if we're going to start to solve these problems. -- entitlements if we're going to start to solve these problems. i think the approach he has taken is one that is setting this process up for failure. the proof is the results of negotiations we have seen over the last couple weeks. >> would you have voted for plan b? >> as someone who has been out here in indiana, i do not know all the details o
FOX News
Dec 29, 2012 4:00pm PST
plunging off the so-called fiscal cliff into the higher taxes and deep spending cuts moments away. plus, an enormous drug smuggling tunnel discovered under a suburban home. wow. where this was located. and the clue that up ited off police. that tipped off police. >>> some families now in america living in limbo after russian president vladimir putin signed a laurie sphricting them from adopting children. they called it retaliation for a law that targets human rights violators. basically it is a political game with little children caught in the middle. right now few are hurting more than those families already matched with orphans and waiting to bring them home. melissa cutler from kdfw in dallas has more. >> we hoped she would get to come home for christmas. we are hoping now it is her valentine dress. >> they were just two months away from making a five-year-old russian girl with down syndrome a part of their family. >> she is not hard to love. not at all hard to love. >> they plan to rename her anna faith. >> most of the toys that we have collected are infant toys because she is not d
CSPAN
Dec 29, 2012 7:00pm EST
:00 on c- span's q&a. >> coming up, and look at the so-called fiscal cliff. weekly addresses from president obama and with republican senator roy blunt. >> hi, . i have been working to come together around a plant to grow the economy and shrink our efforts -- deficit. it is a balanced plan, one that would cut spending in a responsible way and ask the wealthiest americans to pay a little more. i will keep working with anybody serious about getting a comprehensive plan like this done because it is the right thing to do for our economic growth. we are not at the point where in a couple of days, the losses at the americans' tax rates are going up. the americans paycheck will get a lot smaller. that would be the wrong thing to do for our economy. it would hurt middle-class families and it would hurt the businesses that depend on your spending. and congress can prevent it from happening, if they act now. leaders in congress are working on a way to prevent this tax hike on the middle class and i believe we may be able to reach an agreement that can pass both houses in time. but, if an agreement is
FOX
Dec 30, 2012 9:00am EST
, all the talk about the fiscal cliff is interesting and we'll stumble along and the economy will stumble along and, i think we will have big foreign policy challenges an crises with respect to iran, afghanistan, syria, and i think that will be the dominant preoccupation of the year. >> chris: when it comes to iran which i know, is still a preoccupation of yours, a year from now will we talk about the diplomatic deal that has been accomplished, military action taken or the fact we are still then same mess. >> i think the military action that will have been taken. >> chris: by us or israel. >> i don't know. >> chris: well that is enough. there you go. senator bayh. >> believe it or tho not, the election is over but another one is always about to begin and i think you will see the vice president, probably making trips, at some point in the first half of the year to places like iowa and new hampshire, just to pick states at random, because he would like to set the stage for the next -- winning the democratic presidential nomination, in four years, of course the party is going to
CBS
Dec 30, 2012 7:30am PST
about the attack in libya. >> there's going to be a massive fiscal cliff. >> in capitol hill the gridlock that defined the year turned into a stalemate over tax hikes and spending cuts that threatened to flung the economy back into recession. president omaba and john boehner failed to reach a deal before christmas. lawmakers left for the holiday with the country on the edge of the fiscal cliff. danielle nottingham, cbs news washington. >> it was quite a year. we've going to -- we're going to have more reviews in the last hour. at 8:45 we will take a look at the international news stories of 2012. that is going to be on the cb channel 44, cable 12. >>> for the moment let's look ahead. mcathy labs expects hacking to mobile devices to expand. they might that stuff. the company is especially concerned about so-called ransom ware. it's a type of virus that locks up a phone or tablet and threatens to keep it that way until a ransom is paid. other concerns for mobile customers include trojan horse programs to buy apps without user permission and the hacking of digital wallets. a dec
CSPAN
Dec 30, 2012 6:00pm EST
a compromise to avoid the fiscal cliff. that is the nature of a compromise. i hope that one isn't included but it may be. we have to do things important for this economy and one of the most important is to make sure we extend unemployment benefits for long term unemployed. if we don't act quickly two million americans will lose their unemployment benefits tomorrow. these people are literally struggling to get by and keep their families together while they look for a job. we should make sure this stimulus, the money for unemployed families continues so that while they're trying to find a job or going through new education and training, they have a helping hand. that's who we are as americans, and we ought to include it in any package that avoids this fiscal cliff. beyond that, there's much work that needs to be done beyond the fiscal cliff. this negotiation does not really go deeply into deficit reduction, and i think we need to. i was a member of the simpson-bowles commission. i salute my colleague, kent conrad of north dakota who is retiring in a few days for his amazing leadership in bri
FOX News
Dec 30, 2012 11:00am PST
cliff is interesting and we will stumble along i assume the economy will stumble along and the government won't bankrupt the country quite yet. i think we will have foreign policy crises with respect to and syria.ghanistan >> chris: iran, a year from now will we be talking about the diplomatic deal palestinianed, the military action taken or the fact that we are still in the same mess. in. >> i think the military action that will have been taken. >> chris: by us or israel? >> don't know. >> chris: that is enough. there you go. >> believe it or not i think campaigning will start again. the election is just oh but another one always about to begin. i think you will see the vice president probably making trips at some point in the first half of the year to places like, iowa, and new hampshire just to pick states at random because he would like to start set setg the stage for winning the nomination in four years. if hillary clinton decides not to run i think the vice president starts off as the favorite in a field that will include several others. joehris: you are saying j
ABC
Dec 30, 2012 4:00am PST
until we all go over the fiscal cliff which would mean everyone's taxes will go up and sharp spending cuts will go effect that could drive our economy back into recession. to abc news white house correspondent jonathan karl filling in today for george stephanopoulos as host of abc's "this week." >> hey, jon, good morning. i know today and tomorrow obviously hugely important. can you sort of walk us through the potential order of operations? what could we see play out today and tomorrow? >> well, it is right down to the wire, dan. what's happening right now is harry reid and mitch mcconnell, the top democrat and republican in the senate are still negotiating their staffs at this hour. they are supposed to be working until about 3:00 this afternoon when the plan would be presented to both caucuses. as we understand what they are talking about is the bare minimum. basically the senate negotiating to extend those tax cuts for everybody making under $250,000 a year and do extend unemployment benefits also they're talking about trying to do something to stop the automatic spending cuts that
NBC
Dec 30, 2012 5:00am EST
and there's still no sign leaders are closer to agreeing on a deal to avoid the fiscal cliff. here's brian mooar. >> as senate leaders were behind closed doors, president obama and republicans issued dueling messages on the web. >> we can't afford a politically self-inflicted wound to our economy. the economy is growing. >> if the nation goes over the fiscal cliff next tuesday, each side blames the other. >> we can avoid going over the fiscal cliff if the president and democrat controlled senate step forward this week and work with republicans to solve this problem and solve it now. >> all over the country now, uncertainty is in the area. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. >> even if the impact isn't real, the perceived impact could cause us to drop off in sales. >> getting a deal is up to the senate's top democrat and top republican. >> we are engaged in discussions, the majority leader myself and the white house, in hopes we can come forward as early as sunday and have a recommendation. >> whatever we come up with will be imperf
ABC
Dec 30, 2012 9:00am EST
overshadows what's wrong with washington." now, some could argue if we do get past this fiscal cliff and address the debt ceiling, 2013 could actually be a good year for the economy, the housing market continues to recover. we do see an energy boom, as well, but you know i spoke with robert rubin, as well and i think he summed it up by saying this really was a missed opportunity that we're seeing right here for some sort of grand bargain for a big deal to address the debt limit here and so far we haven't been doing that. >> and, bianna, i would not count on these guys finally getting their act together in any significant way even if we get a mini deal. thank you very much, both of you. bianna and leigh, thank you for joining us here on "this week." >>> finally your voice this week. today's question comes from crisp ty miller jones who says "my 16-year-old has a twitter account with 34,000 plus followers. where do you see journalism heading in 15 years? what advice to the next generation of journalists would you give? well, thank you for that question, christy. i would say regardless
CSPAN
Dec 30, 2012 10:30am EST
to avoid the whole fiscal cliff and the president has never called for the senate to act on those bills. he simply has allowed the democratic controlled senate to sit on them and lead our economy to the edge of the fiscal cliff. i am pleased senators from both parties are currently working to find a bipartisan solution and finally passed the chamber. if that is the type of leadership american needs, not what they saw from the president this morning. the words of the speaker of the house, john boehner. the senate and house are in today. the senate gavelled in 10 minutes ago. on their agenda today is a couple of nominations, nomination votes at 2:00 p.m. eastern. forn they will gavel iout about an hour to discuss possible solutions to the fiscal cliff. the house will come in at 2:00 p.m. eastern. they have 14 suspension bills on the agenda this afternoon. we expect them to come in at 2:00. vote's expected 6:30 eastern. we will have live coverage on c- span. representative ron paul, former republican candidate, wraps up 24 years in the u.s. house. the baltic and look next at his farewell speec
CSPAN
Dec 30, 2012 7:00am EST
forward and pass whenever bill is necessary so we can avoid this fiscal cliff. if we do not do that, it will result in the economy, a tepid recovery we are having to go into recession. we do not want that. host: thank you for the call, justin. a few comments on our facebook page -- we are taking your calls and tweets and facebook messages all morning on this segment and the next segment about the fiscal cliff. we will go to franklin from georgia on the democratic line. good morning. caller: good morning. i like to tell congress, congress is a mano kolinsky for the lobbyists. we have to deal with that. -- monica lewinsky for the lobbyists. we have to do that. they are putting money in their pockets so they can take vacations and revitalize their homes. host: do you think this fiscal cliff nonsense is to make more members of congress money. caller: yes. anytime you can say that corporations are people, you have already gone against -- i am talking about what the forefathers said. when they said that liberty and pursuit of happiness -- the two- party does not -- the tea party does not
NBC
Dec 30, 2012 9:00am EST
over the fiscal cliff next tuesday, each side blames the other. >> we can avoid going over the fiscal cliff if the president and democrat controlled senate step forward this week and work with republicans to solve this problem and solve it now. >> all over the country now, uncertainty is in the air. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. problem and solve it now. >> all over the country now, uncertainty is in the air. >> it's not a matter of am i going to pay my light bill or not but will it deplete my savings. >> even if the impact isn't real, the perceived impact could cause us to drop off in sales. >> getting a deal is up to the senate's top democrat and top republican. >> we are engaged in discussions, the majority leader and myself and the white house, in the hopes we can come forward as early as sunday and have a recommendation. >> whatever we come up with will be imperfect. some people aren't going to like it. some people will like it less but that's where we are. >> majority leader harry reid and minority leader mitch mcc
MSNBC
Dec 30, 2012 5:00am PST
the economy back in gear and getting the economy back in gear. >> you would extend? >> the fiscal cliff would happen like in 2014. >> so bush tax cuts for the top 2%? >> keep those. the whole shabang. what we need is more money to go to the economy to keep things afloat. and this is not the time to figure out how we're going to reduce that. it doesn't -- it's not quite that important right now. >> picking up on that point, you're very closely following that stuff in washington, it looks like, my interpretation of this and tell me if i'm wrong, the payroll tax is basically gone already? >> i totally agree. it's not even being mentioned and the reason is, obama's last offer -- we actually had obama and boehner still negotiating in good faith, passing deals back and forth and this was included. he dropped his demand for having an extension of the payroll tax holiday in which the payroll tax was dropped from 6.2 to 2.4%. he dropped it. the stimulus offer shrank from 425 billion to 175 billion. so it's something he's already given up. you had tim geithner saying earlier in the year that, you know,
FOX Business
Dec 30, 2012 8:00am EST
on the market and it's all related to, not the-- not the fiscal cliff, it's the psychology of the fiscal cliff, and the sad truth is whether they do deal now or they thoughtfullyo a deal six months from now, really, nothing wl be accomplished. he fact is, public debt is consuming our economy. it's about 73%, regardless of what deal gets done. it will be about 73, 74% ten years from now. we've done nothing and nothing will be done to address social security, which is now officially running deficit, medicare, medicaid costs are growing ast nomically. at least do a dumb deal now and get people over theiscal cliff and kick the can down the road, that's going to happen anyway. >> steve, no deal, bad deal? i kind of feel like i'm playing poker. what do you think? >> i can't believe it, but i agree with jim. the most deficit reduction is going to come from no deal. and that's what we need. that's what this economy needs, the biggest threat to economic growth, if the deficit and the debt, 4 trillion, everybody talks about it as somome sort of grand bargain. it's barely a start. this isn't a fiscal cli
CNN
Dec 30, 2012 9:00am PST
to say mostly about the fiscal cliff but other issues as well. he talked about his priorities for his second administration. he talked about writing the economy again -- righting the economy again. immigration reform. and energy. in his top four he did not mention gun control until prompted by david gregory. take a listen. >> you know, i've been very clear that, you know, assault rifle ban, banning these high-capacity clips, background checks, that there are a set of issues i have historically supported and will continue to support. >> back with "time" magazine's michael crowley, hill's a.b. stoddard, karen tumulty, and cnn's chief white house -- cnn's chief -- white house correspondent jessica yellen. so, it was not a yes, we're going to get this gun thing done, whatever the gun thing is, whether it is school safety, combination of that and mental health, some kind of gun control. it was not uppermost on the president's mind. what do you make of that? >> he's not running into the breach and as a president you have to prioritize. >> about anything. >> really about any of those. he did
FOX News
Dec 30, 2012 1:00pm PST
saying he is not overly optimistic that a deal will be reached to avoid the so-called fiscal cliff. even if they get something passed here there are other challenges that our economy will face. global powers like china and europe and japan are having major problems of their own. that could affect the way they do business with us. joining us is to talk about, ed, good to see you. biggest problem some of these governments to stimulate their economies, die let's just print a bunch of money. that has catastrophic events with them and even with the united states that may tried traded with them. >> that seems to be just to print money. that is not how it works. when somebody prints money, it's devalues their currency which makes anything they want to export or anything that they are importing more expensive. that is why your food is more expensive because we imported a lot of that. that is why energy is more expensive because we import a lot of that. if every country is doing that, its race to the bottom how quickly they can devalue their currency. >> we trade with so many different nations. w
FOX Business
Dec 29, 2012 8:00pm EST
there will be no tax hikes. unwilling and unable perhaps, for what will ensue of the fiscal cliff. but the fact is that we are looking at a real prospect that the republicans will be held responsible and must plan be actually has the effect of shifting some of the responsibility to the president read what you think are the odds? >> i think he will be held responsible for thecony in 2013 and 2014. you cannot blameeorge w. bush anymore. they control the senate. it is their economy for sure. so i think that you're going to see a real problem i 2013 and 2014, but i do think it's obama's economy now. the republicans passed the tax cuts for one group, let's say all the wa through, not the very top group, i don't know where that negotiation is going to come out, but if they do that, i think that ty will be held blameless for the economy. lou: as we wrap up here, i would like to ask you a question this way. because i said last year that i felt strongly at the beginning of the campaign. the democrats were the republican -- the democrats or the republans, which party led the discussion to the enduring at
CNN
Dec 30, 2012 1:00pm PST
strike some kind of fiscal cliff deal. but a former assistant secretary of defense says he can help with a way to cut almost $100 billion from the defense budget. he will be here to explain. hey, look! a shooting star! make a wish! i wish we could lie here forever. i wish this test drive was over, so we could head back to the dealership. [ male announcer ] it's practically yours. test drive! but we still need your signature. volkswagen sign then drive is back. and it's never been easier to get a jetta. that's the power of german engineering. get $0 down, $0 due at signing, $0 deposit, and $0 first month's payment on any new volkswagen. visit vwdealer.com today. >>> this whole fiscal cliff mess shows how incredibly out of touch your the way people really live in this country. you are off in la la land and everyone is saying how you're acting like a bunch of spoiled brats who are more interested in being right than in doing the right thing and actually representing the people who elected you. >> my new year's message to washington is this, there are not enough wealthy people or corpor
FOX News
Dec 30, 2012 9:00am PST
. >> economists say one of the effects of the fiscal cliff is that businesses are now holding back on spending money whether it be investing in stock, machinery and equipment needed for the company or products they sell. and for a slowly strengthening economy, the shock of less spending could be all it takes to push the country back into a recession. >> businesses are not hiring workers now at the pace we would expect because the small businesses say we can't hire right now until we know what the tax system is going to look like and what our tax bill is going to be in 2013. >> and shannon, economists also say the trend will decrease money in the pockets of consumers so they will have less money to put back into the economy by buying goods and services. back to you. >> shannon: we asked you if going over the fiscal cliff might be a good thing. and boy, did you respond. your answers, next. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purche, everday!
MSNBC
Dec 30, 2012 11:00am PST
that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy and create jobs. >> if the fight comes back -- i want to ask you specifically about entitlements, medicare and social security, are you prepared in the first year of your second term, to significantly reform those two programs, to go beyond the cuts you've suggested to benefits in medicare, which your own debt commission suggested you'd have to do if you were really going to shore up medicare at least. are you prepared to do that in your first year of the second term? >> what i've said is i'm prepared to do everything i can to make sure that medicare and social security are there not just for this generation but for future generations. >> you've got to talk tough to seniors. >> i have, one of the proposals we've made is something called chain cpi. which sounds technical, but basically makes an adjustment in terms of how inflation is calculated for social security. highly unpopular among
MSNBC
Dec 30, 2012 1:00pm PST
. if we can get that done, that takes a big bite out of the fiscal cliff. it avoids the worst outcomes. and we're then going to have some tough negotiations in terms of how we continue to reduce the deficit, grow the economy, create jobs. >> if this fight comes back. i want to ask you specifically about entitlements, medicare and social security. >> right. >> are you prepared in the first year of your second term to significantly reform those two programs, to go beyond the cuts you've suggested to benefits in medicare that your own debt commission suggested you have to do if you are really going to shore up medicare at least? are you prepared to do that in your first year of the second term? >> what i've said is i am prepared to do everything i can to make sure that medicare and social security are there, not just for this generation but for future generations. >> you've got to talk tough to seniors, don't you? and say something's got to give. >> i already did. david, as you know, one of the proposals we made was something called chain cpi, which sounds technical, but basically is an a
FOX News
Dec 30, 2012 3:00pm PST
actively. the fiscal cliff is thought to be connected with real economic disaster if it goes on, raising unemployment past 9% and sending the economy into a tailspin. if they get things done by the middle of next week it won't have a major impact but they need to show the american public they can get this agreed upon. >> in good faith. >> or they'll rattle the markets. tomorrow's the day to keep your eye on the senate. they have to pass something. senator reid will feel a sense of responsibility to get something done. >> we'll bring you back this hour. i appreciate it. you gave us a nugget that some of this could be retro actively picks -- fixed. >> all this talk about what will happen in the nation goes over the cliff. we'll talk about how it could affect your paycheck in particular. the capital one cash rewards card gives you 1% cash back on all purchases, plus a 50% annual bonus. and everyone...but her likes 50% more cash. but i'm upping my game. do you want a candy cane? yes! do you want the puppy? yes! do you want a tricycle? yes! do you want 50 percent more cash? ♪ festive. [ mal
FOX News
Dec 30, 2012 3:00am PST
starting to see very positive trends. >> clayton: let's talk about the fiscal cliff. 'cause a number of factors in play here, number one, capital gains taxes moving forward and we saw a lot of investments and a lot of investors buying up. are you from phoenix in that neck of the woods? >> no, i'm in washington. both d.c. and seattle. >> clayton: and some of those investments, even in the d.c. area, we saw some investments in the outlying areas, but phoenix of course, vegas. investors coming in and buying up a lot of those properties down there, but how will the fiscal cliff affect investment going forward and maybe helping this recovery? because we're going to see a big increase in the capital gains taxes? >> that's right, it's going to have a bigger impact than i think analysts are predicting, maybe because they're numbers crunchers and not in the market. and fueling the momentum in the real estate markets, snapping up the foreclosure properties the last few years and the concern is they're going to be a little bit more conservative in their purchasing moving forward. and here is a
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